Harbor Stone Advisors is pleased to present the unique opportunity to acquire Riverdale Station Apartments, a well-maintained garden asset located in Riverdale, MD. Located in Prince George’s County, the property is less than a mile away from The Station at Riverdale Park, a mixed-use development anchored by Prince George’s County first Whole Foods Market. Riverdale Station Apartments is also a 5 minute walk from the Riverdale MARC train station and is less than a mile away from two stops on the upcoming Purple metro line.
The property features 23 units with a mix of (21) 1 Br-1 Ba and (2) 2 Br-1 Ba. Typical unit features consist of stainless steel appliances, wood cabinets, granite/white quartz countertops, and laminate/hardwood flooring. Current ownership has renovated 21 units between 2016 and 2022 and has completed numerous capital improvement projects including replacement of the roof and windows, renovation of the common areas, and exterior painting. The opportunity exists for a new owner to renovate the 2 remaining classic units and increase the legacy utility reimbursements to current rates.